Renting out your property is a terrific way to earn extra income. There are also plenty of properties investors out there who only invest in buy to rent property so they can one day be financially secure when the mortgages are paid off. Property investments are one of the best investment types you can make and is definitely worth the risks that you take when you take out the mortgages. One of the biggest risks when it comes to renting is entrusting your property into the hands of strangers but luckily you can eliminate this big risk by simply finding the best possible tenants.
Property and maintenance can be incredibly expensive if you invest in tenants who are not going to take good care of the premises. The more tenants who apply for your rental property the more choices you have and the more likely you are to find a much better tenant.
Do proper tenant screening
You should do proper tenant screening when you consider the prospective tenants for your property so you can be sure that the tenants do not have a history of bad credit, property destruction and so you can be sure that they will be steady and won’t leave you in trouble if they decide to move out prematurely. Vertical Rent is tenant screening companies that can help you select the best possible tenants for your property. When Vertical Rent checks your tenants for you they do a thorough background and credit check to ensure that the client is in fact who he or she says they are, does not have a bad criminal history and does not have a history with bad debt with previous landlords. Tenant screening with Vertical Rent is one of the best steps you can take if you want to be completely safe and secure when you trust completely strange tenants.
You should also interview the possible tenants properly because an interview can give you a chance to meet your tenants face to face to see if they are in fact decent people and you get the opportunity to study them in person. During the interview you should look out for bad habits such as smoking, alcohol misuse, illegal sustenance’s and more. You should also watch out for bad attitudes or signs that the tenants might not be as good as they are pretending to be and remember to enquire about their weekend habits since you don’t need tenants who are going to be too loud or cause alarm in your property.
Make the rules clear
You should make the rules regarding your rental property clear from the start. When your tenants are clear on the rules regarding friends, stay overs, parties, pets and the general care of the property they will know whether they will enjoy their stay there or whether they should rather seek out another apartment or business property and you will increase your chances of finding the type of tenants that you are looking for.